Why is Schaeffler India falling/rising?

As of 03-Nov, Schaeffler India Ltd's stock price is currently at Rs 4,230.90, reflecting an increase of Rs 213.8 or 5.32%. The stock has shown strong performance today, having outperformed its sector by 1.92% and gaining 7.75% over the last two days. It opened with a gain of 3.63% and reached an intraday high of Rs 4,389.25, which is just 3.83% away from its 52-week high. The stock is trading above all its moving averages, indicating a positive trend. Additionally, the company has demonstrated high management efficiency with a return on equity of 18.67%, a low debt-to-equity ratio, and has reported positive results for the last three consecutive quarters, contributing to its recent upward movement.
In the broader market context, Schaeffler India has outperformed the benchmark Sensex over the past week, with a return of 7.67% compared to the Sensex's decline of 0.94%. Year-to-date, the stock has generated a return of 24.57%, significantly higher than the Sensex's 7.47%. This strong performance is supported by high institutional holdings at 20.62%, indicating confidence from more sophisticated investors. The overall positive sentiment in the bearings sector, which has gained by 2.84%, further bolsters the stock's upward trajectory.